4
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 2, 1997
THE SHERWOOD GROUP, INC.
(Exact name of Registrant as specified in its Charter)
Delaware 1-9480 22-2394480
(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification
Number)
10 Exchange Place Centre, Jersey City, New Jersey 07302
(Address of principal executive office) (Zip Code)
Registrant's telephone number including area code: (201) 946-2200
Not Applicable
(Former name and former address, as changed since last report)
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Item 5. Other Events
The Sherwood Group, Inc. (the "Company") completed the acquisition of all
of the stock of Dresdner-NY Incorporated ("DNY"), which is engaged in the
specialist business on the New York Stock Exchange ("NYSE"). The shares
were acquired from Dresdner Bank AG for $14,918,056 in cash. The
purchase price is subject to adjustment as provided in Section 1.6 of the
Stock Purchase Agreement dated as of April 11, 1997 between the Company and
Dresdner Bank AG which was filed as Exhibit 10(b) to the Form 10-Q for the
quarter ended February 28, 1997. Upon consummation of the acquisition of
DNY, DNY transferred the assets (except cash) and liabilities of DNY to
Equitrade Partners, a limited partnership which is a specialist on the
NYSE, in exchange for a limited partnership interest in Equitrade Partners.
Equitrade Partners is an affiliate of the Company and its financial results
are consolidated with those of the Company. The assets transferred by DNY to
Equitrade Partners included four seats on the NYSE and service as a
specialist in 51 securities traded on the NYSE. The transaction was funded
by the Company from internal resources.
Item 7. Financial Statements and
Exhibits
(c) Exhibits
Exhibit Number Description
Exhibit 2 The Company agrees to provide to the Commission
copies of schedules which were not filed with the
Stock Purchase Agreement filed as Exhibit 10(b) to
its Form 10-Q for the quarter ended February
28, 1997.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
The Sherwood Group, Inc.
(Registrant)
Dated: May 15, 1997 By: /s/ Denise Isaac
Name: Denise Isaac
Title: Chief Financial Officer and
Principal Accouting Officer
<PAGE>
Exhibit Index
Exhibit Number. Description Page No.
Exhibit 2 Agreement to Provide Schedules 2
